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<br /> _, ::� Y ` Y. F�y�ent ot�as3paZ►�tems4 aad t.ute:C�� Borrawer s�a11 pay�vhen dne the prinr.ipal of iind interest ars. .;�,�:i.� S�'-
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<br /> °' r�s� ;, the debt evideacerl by the Nate IInd 1ate c�arges due under th:Note. • --' "."'s"—
<br /> �`'`-- ¢-�-� t Al a n t h l Y P�i'm�tfs of Trsse�.Insarance aad OEhes Ci�xr�eS. Bosroaer shail include�in eac6 manthiy paymca�, . ,x� �;�:, ,�.i�z�i
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<br /> ,�r � -� � wgethu witb the pnnsipal and interest as set fonh in the Nate und any late charges,an instaitment oF any ia) caFes and < i ; 4 •.
<br /> ,,L.,;�.w„ ��` t�Cial assessments[evied or to t�Ie�ied bQainst si�e.Properry,(b)tea�ehold paymcnts�s gound rencs on tfie Pr�p:rty.attd �x^,i;.•�.
<br /> -� �. � •' (c)Pre�iums far ias�+runce required by Para�pb 4. . ' y s `�' `�'��^ -_
<br /> "`s�?`-� Eash monthty installmen! for item� (a?. {b) �ad ls) sl�all e4uas ane-nvelhh of the annual amonnts� as r�asonabiy . � ,�- t=',
<br /> ,-.,.�._.... �... . �=.<:i1��?�-r�.-�--__:
<br />'•�i-;_. . es6►t�ated by I.�nder.ptus an amount tiufficieni tn m�ntain an additionai balance of not more than one-�ixth o�the esti�natcd
<br /> , . . I � �,..:;;,:..d:._,.,�-
<br /> # r,+;_;;���:�' amount�. `llTe ful�annual�mour.t for each item shall be axeimulat,ed by Lender��ithin�a period ending one month befare an `�,",� ...-r a+��n`
<br /> , ,��.�_�-"� ' item cr•ould 6ecame d�linquenG Lende�shaD hotd thr amounts celtected in trusi to pay aemq(a>.(b)and(c)before they :, :t s,�.a�� ,�.
<br />_ -��." �;,,.. �,�- beceme delinquena. t � -��t `
<br /> If at any tune tfte tatat af th�pay[nents iietd by t�ender fe�r it�n.s(a).(b3 aitd tc).togcihet t�ith the fu�m rnanthly . ` ;' s`"' ''::
<br /> �,��'.�r -� paymenis for sucb itetns�ayabie W ixnder prior tu the due dates af such items.excxed.c by ma;e than one-s'vettt tiie escemate3 � � �" r�-�.." {:
<br /> .;�;_�;''L',,. �- amount of pay�nts required tn pay such ttemc tvhen due. and ii paymeat+ on the Notc an curren�, ttien L,eader "�• ;�� ? �r'°� _
<br /> �;�• • �"� shalt either refund the exc.�s oter one-svctb af tt�estimated payments or eredit the exce.cs ocer one-sixth of the estimated ::{' ,� �.���•nr ._
<br /> 1�= , � � t�nFr•?we�.at�he. n af Borro�ver.. if thc tatal of ihe,payments made by Borrower j �_
<br /> �3i'i&vii�tC��'P-��r-��t�y -- QP� _ '_ �r.aaeru� _
<br /> "'' '"° T for iLem(a).(b?,or tc?�s uisuffcieni to pay the item when due.then Borrower shalf paX io .Tender any amonni 6ec't�.��Yca - - �.��:�cc�uv�«.�
<br /> ' � make up the deficiency an or befom the date the item becomes due. l g'�.,.�� � j��=,
<br /> 4 � a. � '�. , qs usc�in this Security fnsuvment,"Secsetary"meaas the Secretary of Housing and Urbart Devetopment or his or�ier b-� � — ,
<br /> as -
<br /> � designee. In any gear in which the Lender must pay a mortgage insurance Qremium to the Secretary(or any yeat in�h ieh . _ _
<br /> sach premium would have been require,�if the Lender srill hel:!the Security Insu�ment).each monthty payment s6atl:also, �f�,.;�.____ —
<br /> + includQ eithar: (i)an instaltment of the annual mort�e insurance premium to be raid by Ixnder to the Secretary,ar(u)a � ___
<br /> {'_;�_.;:...;.: • mm�nti�ly�cl�arge instead of a morteage insurance prermum if this Secunty tn.�ment is held by the Secretary. Each�onthlY ���� ---
<br /> -^ �, ,. �„ intitaltment of ths mnrtgage insu�ance premium sdall be in an a�nount suffiaent to axumutate the fWl annual tnartgage --- _-
<br /> ��:',a�.: ,-`: insurance premium n-it1� Lender one month prior to the date the full annual mortgage inswance premium is due to the� k� -- ___
<br /> �r��°`-..-,.� �ecretary. ar if thi� Security InsLCttmcnt is heid by the Serretary. eacb monthl}� charge shall 6e in,an amount equal to F _ _
<br /> �� �:•�' • .{. out-t�veifth of one-half percent of the outstanding pnncipal bal�cce dae on the Note. � ` -
<br /> 4 :-�'` ,4:_ . if Borro�ver tenders to Lendet tI�e fuU payment of all sumc secured by this SetRrity Inswmcnt,B�rrotver�uccc►ent �;�y�_.;��a--
<br /> :7;�--��:: shaU be'credited witt� the balance rem�ining for all installments far items(a), (b)and (cl aad any �stgag� insurance �..�,-_ ---
<br /> ` �' ��''�° mium instal2ment that Lend�r has not becoms obligated to pay to the Secresary.a�d Ixnder shali promptly refimd any ,��; �.
<br /> � _•� f'� x�s funds t�8orrower. Im�ediately priur tu a foreclosure sale of the Property or its acyuisipon by Lsnder.Borrouer's �,��; '=—
<br /> �� ,.;;� account shall be credited with any balance remav'►it►g,for all installments for items(a).(b�and(c)• ` �,. :- ~.�
<br /> �� 3. ApglIca�aa of Payalent9. All payments un der?aragrap h s 1 an d 2 s h a l l be app l i e d b y Lender as follows: ,,�,�� ,.
<br /> ` �IRST,ta the mortgage inswance premium to be paid by t,ender to the Secretary or ro the monthiy charge by . ;,;�,���
<br /> � � ,�,, • the Secretary instead of the monthty mortgage in�urance premium: � , `'���-=
<br /> �'-- _- SFI'.�l1Tn_ LO 3IIV I37iC5.5�3� 3�SQ5.47I3flILS.1G1S2�1�}�Y[pf'.nt�ws o�nt s}��2Mt.fiTe. �lUfld_�_Qt�Ief—- -. - - -- �� i---�-_
<br /> �� � halard insurance premiums.as requ"ued: 7� ,_,+
<br /> ,�. .: TFiIRD,to interest due under the Note; �.,,�
<br /> �, . FOUR to amorti7atiian aP the principa!of the Note; �:3'.
<br /> "��:�"f"`�; to late char es duc under the Note. . ,..`
<br />. =::}�i�`�t, _
<br /> .i�;.;.<;, +. q.�'Fire,Fiood and Oiher[iaz�rd insurance. Boman•er shaU insure all improvements on the Property..cche��now
<br /> .' ' in exiseence or subsequendy ererted. again-�t aay hazard5, casualries, and conungencies, including.�ire,.for which L.ertder ?
<br /> .,•',; ., ai,-.;.,; ,�,,
<br /> --;;�_;•�;;:_,-.. �:.+; requires insurance. This ins«rance shall be maintained in the amounts and for the periods thai,�.ender require.�. Bot;qwei ,�,��'' - -
<br /> •• ' shall also iasure all improvements on tf�e�Pn��:-sty.whether now in existence or subsequendy erected.agn�n�t.lo�.s by�lopds ; ;,y
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<br /> :� ..-:'.�::: ta the extent Lequaed by the Secretary. .�:1 insurance shall.be carried with wmpanies approved by l,ender. '[he 9,nsq�ance .
<br /> � . • policies and any renewals shall be held by L.ender and�hall include loss payable clausec in favar of,and in a form acceptabte
<br /> to.I.,ender. � �
<br />,'���� •_. ;...`.:�..•r:� In the event of loss.Borrower shall give L.ender immediate notice by'nail. Lettder may make proof ot'loss if not made ,. � :.�'
<br /> ' '� ' �� promptly by Botrawet. Each insurance company concemed is hereby aathorized and directed to make payment for such fqti�, -�-•'•' ��
<br /> '�'��f -� dire�tty to Lender.insteud of to Borrowcr and to I.ender jointly. All or any part of the insurance proceeds may be appl+e�,by,,, � . ,��.
<br /> m_.l�tir`.;?s�,_,.x� , ��c �"'_'�T:-
<br /> ��=��,�4 ,;r- , Lertder,at its option,either(�}i��the reducrion of the ind�biedRess uPder the Notz and this Secunry Inyuument,first„tq anv.,. �:.
<br /> as ��: , dd�:qaent amounts applied in ihe order in Paragraph 3,and then to prcpayment of principal,or(b)to the restoradon.pr t�epau - {,�, ��
<br /> �.. 3�„� of the dama$ed propett}r• An�:�PPlicab�n of the proceeds to the pnne�pal shall not extend ur postpon�the due date of the z
<br /> =__ ' monthty payments which are refeaed to in Paragtaph 2,or change the amaunt of such paymentc. An e.Ktess insurance '.•j t�= �''���-
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<br /> - . _. - proceeds over an amount required to pay�il.4utstanding indeb[edness under the Note and this Securi*.y Instrument shall be '. • '�"r�'�°
<br /> ��`:. :.. '' �:aid to the enrity tegally entitled thereta , �� . .,:�...:"*��
<br /> - 4�;'�..;.. ` . In the event af foreclosure of this Security Inswrr,u:t or other transfer of atle to thc Property that extirt�iushes the ' '�
<br /> �' . �+ ' �utdebtedness,all right,title and interest of$orrower i�i and�u insutancc policies in force shall pass ro the purchascr. ��; . �
<br /> ;?',ss',`,��•`� S. Occupancy, Piaesets+s�tioa, Mainteaiance and Lyc�niectton of the Property: Rorrower's Laatn ApplIcat�on: .', :fi:..
<br /> r�:b�1�� � :�? Le�sehoids. Borcower shall eccupy,establish,and use the ProPerty a:Enrrower's principal residence�vit6in sixry days aft�.�r . .
<br /> �'�Mr the execution o£this Security inswment and shall continue to occcp{dt�..Pcaperty ati Bomativer s principal re�idence far at ..
<br /> �.�_:�3'?�,.uir�f,,,'; • '
<br /> -- =- �^A-' ... . least one year after che date of accupancy,unless the Secretary de.�z:ni�wti this requirement will cause undue hatd�hip for ,
<br /> ...�.`f�`,i};�.,i��, ;;`. BonoNer.or unless e�ctenuaung circumstance.s exist which:sc beyond Borrotiver's control. Borrower shali notify Lenden of •. . .
<br /> -�s�•, ,=�•-. any extenuaUng circu�stanc�.*�. Borroiver shall not commii.��aste or destroy,damage ar substantialiy change the Property or . ,
<br /> __'� `_ .-_!� ' allow the Propeny co deteriprate.reasonable wear and+L::r excepted. Lender may �:tspect the Property if the.I�,.�ocrty �s ,
<br /> - ''"'� �-•� �� �•acant or abandoned or the loan is in default. l.ender�ray take re�sonable attion to protect and pre.rrve;�uw�i.��acant or .
<br /> d.:«_�,.�..:.�;a :
<br /> =-•_'-��-"�-• abandoned Prupecty Barrower shall al�o 6e in default if Bortower.du;ing the loan application pr�xcs�.,guve.mztwriallv.false _
<br /> `��a;��:•_��,�,,�;t � or inuccurate�nformauon or statements to Lender(or failed to proti•ide L,ender with any material infanr.atiac3 in c�nn�ion . , �
<br /> :.._.,�:,�_, �.: ,- with the toan evidenccd b�the Note,including,but not liraited t�n.�r�escntntian�Gonccming Borrau.rs s occuganc}t,of the,i,. f•
<br /> __.,,,.,_. Praperty as a principal residence. lf'this 5ecurity[nstruttter�t iS nn a Ieasehold.�onawer shall compty arith G"�Hruyi,ci�nt;.pf„i ,
<br /> r, the lcase. If Borrower acquire.�fee title to the Properiy.thc tc:asehold and fee tide nhall not�be mcrgcd unletig Lendec;.�r��ti to �,, ���:' � ' —
<br /> = ? the merget in viciting. ��' .
<br /> =�7��'.'-�`�'��� 6. Ct�ar�es to Bomower and Ptotectlon oY I.cnder's Rigbts in the,�raperty.,$or.awe.r•.sh:ill,�}+ull govemmental. �
<br /> - ..,._-�, _.f,«c..
<br /> _ `='-��,�, �,�h; or municipal charges.finss and impasition�.thal:�re not.iacludGd:�n Puagraph.,�.��on�tves�h�ll,pay these obligations on .,
<br /> '_T-r "�
<br /> _. ,,,,�,,� dme directly to the entiry which is o�ved the,payment.�If faiiun..to pa}+.µ�autA advenely affec�Lender t intcrest in the
<br /> '�-- Rroperty,apon Lender's request Bozratves shall prompttv,turo,�rh to Lender rcceipts evidencing these paymentc.
<br /> ���.��r�: If Borrower fails tn makc,the�:payments or the payments reyuired by Paragraph 2.or faiis to perform any other • � •
<br /> _,�,,.��,,�F, , covenants and asreements contained in thv�5ecuritp Inswment,or there is a Icgal proceeding that may tiignificantly affect ,
<br /> ::.�.��.:.,=:.;-- � Lende�'s rights in thc Property (such as a proceedmg in banlwptcy.far condemnauon or ta enforce lawc or rc�ulations).
<br /> � : �' Usen l.cnd�r may do and pay�vnacevcr n r�:e5s-�y iv�/1UICit li1G idS�:�,:,f the*.'m^^st'�:.ts3!..°n�..�::ri�hS:•est�hv Pnu�erty. _�.__ -
<br /> � ,.�. inctuding payment of taxes,hazard insurance and other items mentioncd in Para�►h 2.
<br /> Any amounts disbursed by Lender under this Patagraph shall bccome an addrtional debt of Burrvti�er and be securcd by :
<br /> �. '��'��=��' this Securiry Insmunent These amaunt�shall bear intere.�t from the dau of disburbcmen�ut the Note rate.and at the option �
<br /> =i'�•..�,aa,.... ,• , .
<br /> - =•. .. of Len�3er.shall 6c immcdiately due and payabte. . . .
<br /> -=-.. ' � '�::.';:' Z Condemn.atloa. The proceeds oF any award ar claim for damages,d'ucet or wnseyuential.in ronnecuon aith any •
<br /> condemnauon or othet taking of any part of the Property.or for conceyance in place oi condemnation.:ue hereby assigned � � •, .
<br /> and shall bc paid W Lender to the e.rtcnt of the fult amount of the irtdebiedness that remains unpaid under the hote and this f . . .
<br /> � � '�, �" Security lnswment. Lender chall:►pply such proceeds to the reductivn of the indebtedne5s under the hote and this 5erurity . . '
<br /> .,. .. .
<br /> :':-'•�� ' � instrumcnt, fint t� any d.°linyucnt amounts applicd in the order provided in P:ua�aph ?, and thc� to pn:payment of �
<br /> �,
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